MasterCard (MC) first quarter profits rose 17.2% year-on-year (YOY) or 24.0% on a currency adjusted basis (FX) to a record $1020 million. Global purchase volume rose 12% (FX) to $783 billion and end-of-period (EOP) global cards-in-force (CIF) hit 2.2 billion.
Gross Dollar Volume (GDV) for Q1/15 (credit + debit) increased 6.6% YOY to $339 billion, while Purchase Dollar Volume (PDV) rose 7.1% YOY to $287 billion.
The number of Purchase Transactions (PTX) for credit + debit jumped 8.5% to 5.1 billion for the first quarter.
At the end of Q1/15 MasterCard had 328 million U.S. accounts representing 365 million credit and debit cards.
For U.S. credit cards, PDV increased 6.1% to $146 billion and the number of CIF rose 4.5% YOY to 184 million.
For U.S. debit cards, PDV rose 8.1% YOY to $141 billion and the number of CIF increased 12.4% to 181 million.
MasterCard noted net revenue for Q1/15 was $2.2 billion, a 3% increase versus the same period in 2014 as-reported and an 8% increase adjusted for currency. Net revenue growth was driven by the impact of an increase in cross-border volumes of 19%; a 12% increase in gross dollar volume, on a local currency basis, to $1.1 trillion; and an increase in processed transactions of 12%, to 11.0 billion.
MasterCard further noted these factors were partially offset by an increase in rebates and incentives, primarily due to new and renewed agreements and increased volumes. Acquisitions contributed 2 percentage points to total net revenue growth.
MASTERCARD PROFITS HISTORICAL
Q1/14: $870 million
Q2/14: $931 million
Q3/14: $1015 million
Q4/14: $801 million
Q1/15: $1020 million
Source: CardData; MasterCard
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